-LRB- CNN -RRB- -- Sports media giant ESPN gave some of its 7,000 employees pink slips on Tuesday , the network said in a statement .

The Bristol , Connecticut-based company said it was looking at the financial bottom line .

`` We are implementing changes across the company to enhance our continued growth while smartly managing costs . While difficult , we are confident that it will make us more competitive , innovative and productive , '' the statement said .

Some media reports placed the number of affected employees and open positions that would go unfilled as high as 400 . ESPN had no comment on how many people would be let go .

ESPN , which operates eight domestic networks and 27 around the world , is 80 % owned by Disney . It reported higher revenues from its cable networks in the last fiscal year . But it also said that increased programming costs were due largely to the rising costs of the rights to cover sports such as college and professional football .

The sports website Deadspin , which first reported the story , said many of the layoffs are in the technology department but quoted a source that said all departments are `` under review . ''

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ESPN did n't comment on the number of employees affected

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It has more than 35 networks around the world

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Rising sports rights fees are affecting the company 's bottom line

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Deadspin says many employees in technology division to be let go